“The Greater Louisville Association of Realtors shows that last year at this time, from January till now was 2,162 sales. This year we are 2,420, so we are up almost 300 sales,” Gilezan said.

For the first time in decades, fewer properties are being reassessed in Jefferson County. It's good news for most taxpayers. However it’s not such good for Louisville Metro Government, which depends on property taxes for about 25 percent of its revenue.

“We are flat right now,” said Jefferson County Property Valuation Administrator Tony Lindauer.

"Well in 2007, we had the most sales. Banks were giving money away," said Lindauer.

That's also when adjustable rate mortgages were popular, and now it's time for homeowners to re-adjust.

"They have to go in. They have to refinance. They're not making the same income. The lenders have tightened up. They're not giving those same types of people loans anymore," said Gilezan.

Right now in the local housing market, sales are up 11 percent for the first three months of the year compared to 2011. The average selling price over that period is almost the same as it was in 2004.

Gilezan cited one reason for the recent uptick in home sales.

“A couple of years ago, they wanted to wait until the market rebounded here. Now they're going to sell. They’re not going to make as much money as they wanted to, but they are going to save on the buying side,” Gilezan said.